IPM Printing
Open bankruptcyFinancials · financial year 2024, full format
2024 annual accounts filed 60 days after the deadline Filed on 29 September 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00509872.
Annual accounts 2024 filed on 29-09-2025 PDF Annual accounts 2024 (PDF) all 57 filings
Turnover
€3.3m▼ 40.4%
2019 · €5.6m
EBIT margin
-1.3%▼ 0.9pp
2019 · -0.3%
Net result
-€203,374
2023 · €877
Working capital
-€289,074▼ 256%
2023 · -€81,180
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
no figure
2024
20182024
Operating result
-€195,509
2024
20182024
Net result
-€203,374
2024
lowest quarter of the sector
20182024
EBIT margin
no figure
2024
20182024
Equity
-€163,491
2024
lowest quarter of the sector
20182024
Total assets
€656,338
▼ 31.1%
2024
middle half of the sector
20182024
Debt
€819,829
▼ 10.2%
2024
20182024
Working capital
-€289,074
▼ 256%
2024
lowest quarter of the sector
20182024
Solvency
-24.9%
▼ 29.1pp
2024
lowest quarter of the sector
20182024
Current ratio
0.65
▼ 0.26
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-31.0%
▼ 31.1pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
6.6
▲ 8.2%
2024
middle half of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€5.6m€3.3m▼ 40.4%
Operating result€0.02m--€0.02m-€0.04m▼ 124%-€0.05m▼ 16.3%-€0.02m▲ 50.3%€0.003m-€0.2m
Net result€0.003m--€0.02m-€0.03mbelow the sector's middle half▼ 29.0%-€0.05mbelow the sector's middle half▼ 82.0%-€0.01mbelow the sector's middle half▲ 81.4%€0.001mwithin the sector's middle half-€0.2mbelow the sector's middle half
EBIT margin-0.3%-1.3%▼ 0.9pp
Equity€0.2m-€0.1m▼ 14.8%€0.1mwithin the sector's middle half▼ 22.4%€0.05mbelow the sector's middle half▼ 52.5%€0.04mbelow the sector's middle half▼ 20.5%€0.04mbelow the sector's middle half▲ 2.2%-€0.2mbelow the sector's middle half
Total assets€1.7m-€1.4m▼ 18.1%€0.9mwithin the sector's middle half▼ 33.3%€1.2mwithin the sector's middle half▲ 26.3%€0.9mwithin the sector's middle half▼ 22.9%€1.0mwithin the sector's middle half▲ 3.7%€0.7mwithin the sector's middle half▼ 31.1%
Debt€1.6m-€1.3m▼ 18.4%€0.8m▼ 34.5%€1.1m▲ 35.9%€0.9m▼ 23.0%€0.9m▲ 3.7%€0.8m▼ 10.2%
Working capital-€0.2m--€0.2m▲ 0.7%-€0.2mbelow the sector's middle half▲ 6.1%-€0.2mbelow the sector's middle half▼ 2.0%-€0.1mbelow the sector's middle half▲ 38.7%-€0.08mbelow the sector's middle half▲ 35.3%-€0.3mbelow the sector's middle half▼ 256%
Solvency9.0%-9.4%▲ 0.4pp10.9%below the sector's middle half▲ 1.5pp4.1%below the sector's middle half▼ 6.8pp4.2%below the sector's middle half▲ 0.1pp4.2%below the sector's middle half▼ 0.1pp-24.9%below the sector's middle half▼ 29.1pp
Current ratio0.85-0.82▼ 0.030.74below the sector's middle half▼ 0.080.81below the sector's middle half▲ 0.070.84below the sector's middle half▲ 0.030.91below the sector's middle half▲ 0.060.65below the sector's middle half▼ 0.26
Return on assets (ROA)0.2%--1.6%▼ 1.8pp-3.2%below the sector's middle half▼ 1.5pp-4.6%below the sector's middle half▼ 1.4pp-1.1%below the sector's middle half▲ 3.5pp0.1%within the sector's middle half▲ 1.2pp-31.0%below the sector's middle half▼ 31.1pp
Staff (FTE)11.3-8.9▼ 21.2%5.7within the sector's middle half▼ 36.0%5within the sector's middle half▼ 12.3%3.8within the sector's middle half▼ 24.0%6.1within the sector's middle half▲ 60.5%6.6within the sector's middle half▲ 8.2%
above
within
below
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €195,509, after a profit of €3,144 in 2023. It is the lowest result since 2020.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €656,338
Fixed assets
€128,378 ▼ 26.8%
Current assets
€527,960 ▼ 32.1%
Equity and liabilities
Equity-€163,491
Debt€819,829
Equity is negative. Debt (€819,829) exceeds the balance-sheet total (€656,338).
Key figures and ratios
EBITDA
-€148,659▼
2023 · €54,470
Cash flow
-€156,524▼
2023 · €52,203
Interest coverage
-20.66▼
2023 · 6.08
Debt ≤ 1 year
€817,034▼
2023 · €858,315
Income taxes
€738▲
2023 · €500
Staff costs
€584,509▲
2023 · €555,106
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 4 | 7 | 7 |
| full-time | 3 | 2 | 5 | 5 |
| part-time | 2 | 2 | 2 | 2 |
| in full-time equivalents | 4.6 | 3.6 | 6.6 | 6.6 |
| Average over the year, in full-time equivalents | 5 | 3.8 | 6.1 | 6.6 |
| On a permanent contract | 5 | 4 | 7 | 7 |
| Joined | 0 | 0 | 3 | - |
| Left | 1 | 1 | 0 | - |
| Training hours | 138 | 8 | - | 68 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
| Item | 2018 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €459,800 | €326,114 | €256,185 | €238,089 | €142,153 |
| Mortgages, amount registered | - | €49,212 | €47,712 | - | - |
| Carrying value of the mortgaged assets | - | €18,740 | €7,948 | - | - |
| Pledge on other assets, amount secured | - | - | €700,000 | €700,000 | €700,000 |
| Carrying value of the other pledged assets | - | €366,661 | €320,231 | €297,611 | €177,691 |
Source: notes to the 2018 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2018 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Tangible fixed assets | €47,712 | €1,500 | - | - | - |
| Intangible fixed assets | €1,894 | - | - | - | - |
| Financial fixed assets | €17,410 | €10,770 | €3,828 | €12,000 | €1,580 |
| Depreciation and write-downs of the year | €140,373 | €57,185 | €56,507 | €51,326 | €46,850 |
Source: notes to the 2018 to 2024 annual accounts (statement of fixed assets)
Public contracts
14 awards · 2020 to 2026
Impression du journal communal, de brochures et de flyers ainsi que d’affiches A2 et Abribus pour les services de la Commune d’Ixelles, composé de 3 lots. Code CPV : 79823000-9 : Services d’impression et de livraison.: 2026-003 - 2
Het drukken van de gemeentekrant, brochures en flyers alsook het drukken van A2- en bushokposters voor de diensten van de gemeente Elsene: 2026-003 - 1
Impression du journal communal, de brochures et de flyers ainsi que d’affiches A2 et Abribus pour les services de la Commune d’Ixelles, composé de 3 lots. Code CPV : 79823000-9 : Services d’impression et de livraison.: 2026-003 - 1
Marché public conjoint de services d'impression à caractère durable: BF/COM/25/007 - 1
UCL SA 2024.07 : ACCORD-CADRE DE SERVICES RELATIF A L’IMPRESSION DE DOCUMENTS DIVERS: UCL SA 2024.07 - 8
Show 9 more contracts
Accord-cadre de services portant sur l'impression de brochures, dépliants, affiches et autres imprimés divers pour différents services de l'ONE: S-24051-ACHA-CD-imprimés - 1
Accord-cadre de services portant sur l'impression de brochures, dépliants, affiches et autres imprimés divers pour différents services de l'ONE: S-24051-ACHA-CD-imprimés - 2
MARCHE PUBLIC RELATIF A L’IMPRESSION DU JOURNAL COMMUNAL, DE BROCHURES ET DE FLYERS SUR DU PAPIER 100% RECYCLE AINSI QUE L’IMPRESSION D’AFFICHES A2 ET ABRIBUS POUR LES SERVICES DE LA COMMUNE D’IXELLES, COMPOSE DE 5 LOTS: Impression du journal communal sur du papier 100% recyclé
MARCHE PUBLIC RELATIF A L’IMPRESSION DU JOURNAL COMMUNAL, DE BROCHURES ET DE FLYERS SUR DU PAPIER 100% RECYCLE AINSI QUE L’IMPRESSION D’AFFICHES A2 ET ABRIBUS POUR LES SERVICES DE LA COMMUNE D’IXELLES, COMPOSE DE 5 LOTS: Impression d’affiches format A2
MARCHE PUBLIC RELATIF A L’IMPRESSION DU JOURNAL COMMUNAL, DE BROCHURES ET DE FLYERS SUR DU PAPIER 100% RECYCLE AINSI QUE L’IMPRESSION D’AFFICHES A2 ET ABRIBUS POUR LES SERVICES DE LA COMMUNE D’IXELLES, COMPOSE DE 5 LOTS: Impression de brochures sur du papier 100% recyclé
MARCHE PUBLIC RELATIF A L’IMPRESSION DU JOURNAL COMMUNAL, DE BROCHURES ET DE FLYERS SUR DU PAPIER 100% RECYCLE AINSI QUE L’IMPRESSION D’AFFICHES A2 ET ABRIBUS POUR LES SERVICES DE LA COMMUNE D’IXELLES, COMPOSE DE 5 LOTS: Impression de flyers sur du papier 100% recyclé
Procédure ouverte pour la réalisation des documents parlementaires du parlement francophone bruxellois, la fourniture de papier, fardes et enveloppes à en-tête et la fourniture de cartons d’invitation pour le Parlement francophone bruxellois: La mise en page et l’impression des documents parlementaires
Procédure ouverte pour la réalisation des documents parlementaires du parlement francophone bruxellois, la fourniture de papier, fardes et enveloppes à en-tête et la fourniture de cartons d’invitation pour le Parlement francophone bruxellois: La fourniture d’enveloppes, de fardes et rabats, de papier à en-tête, de cartes de visite et de cartons de transmis
Procédure ouverte pour la réalisation des documents parlementaires du parlement francophone bruxellois, la fourniture de papier, fardes et enveloppes à en-tête et la fourniture de cartons d’invitation pour le Parlement francophone bruxellois: La réalisation et la fourniture de cartons d’invitation et de cartes de vœux, la réalisation et l’impression de brochures à caractère pédagogique, sur base de documents PDF fournis
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €5.6m | €3.3m | - | - | - | - | - |
| Non-recurring operating income76A | €0.009m | - | - | €0.006m | €383 | €0.004m | - | - |
| Remuneration, social security and pensions62 | €0.8m | - | - | €0.3m | €0.3m | €0.6m | €0.6m | ▲ 5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.07m | €0.06m | €0.06m | €0.06m | €0.05m | €0.05m | ▼ 8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €256 | - | - | €0.002m | - | -€0.002m | €0.001m | - |
| Other operating charges640/8 | €0.001m | - | - | €0.002m | €0.002m | - | - | - |
| Gross operating margin9900 | €1.0m | €0.8m | €0.3m | €0.3m | €0.3m | €0.6m | €0.4m | ▼ 28.2% |
| Operating profit (loss)9901 | €0.02m | -€0.02m | -€0.04m | -€0.05m | -€0.02m | €0.003m | -€0.2m | - |
| Financial income75/76B | €0.001m | - | - | €4 | €0.02m | €0.007m | €70 | ▼ 99.0% |
| Recurring financial income75 | €0.001m | €2 | €0.02m | €4 | €0.02m | €0.007m | €70 | ▼ 99.0% |
| Financial charges65/66B | €0.01m | - | - | €0.005m | €0.006m | €0.009m | €0.007m | ▼ 19.6% |
| Recurring financial charges65 | €0.01m | €0.009m | €0.007m | €0.005m | €0.006m | €0.009m | €0.007m | ▼ 19.6% |
| Profit (loss) for the period before taxes9903 | €0.01m | -€0.03m | -€0.03m | -€0.05m | -€0.01m | €0.001m | -€0.2m | - |
| Income taxes67/77 | €0.007m | -€0.005m | €0.001m | -€358 | -€356 | €0.001m | €0.001m | ▲ 47.6% |
| Profit (loss) for the period9904 | €0.003m | -€0.02m | -€0.03m | -€0.05m | -€0.01m | €0.001m | -€0.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.003m | -€0.02m | -€0.03m | -€0.05m | -€0.01m | €0.001m | -€0.2m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.7m | €1.4m | €0.9m | €1.2m | €0.9m | €1.0m | €0.7m | ▼ 31.1% |
| Fixed assets21/28 | €0.5m | €0.4m | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 26.8% |
| Intangible fixed assets21 | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | €0.1m | €0.09m | ▼ 33.7% |
| Tangible fixed assets22/27 | €0.05m | €0.04m | €0.03m | €0.02m | €0.008m | - | - | - |
| Plant, machinery and equipment23 | €0.003m | - | - | €115 | - | - | - | - |
| Furniture and vehicles24 | €400 | - | - | - | - | - | - | - |
| Leasing and similar rights25 | €0.05m | - | - | €0.02m | €0.008m | - | - | - |
| Financial fixed assets28 | €0.06m | €0.07m | €0.07m | €0.06m | €0.05m | €0.04m | €0.04m | ▼ 0.4% |
| Current assets29/58 | €1.2m | €1.0m | €0.6m | €0.9m | €0.7m | €0.8m | €0.5m | ▼ 32.1% |
| Amounts receivable within one year40/41 | €1.0m | €0.9m | €0.5m | €0.8m | €0.7m | €0.7m | €0.5m | ▼ 27.5% |
| Trade receivables40 | €1.0m | - | - | €0.8m | €0.7m | €0.7m | €0.5m | ▼ 27.5% |
| Other amounts receivable41 | €0.001m | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.06m | €0.05m | €0.07m | €0.03m | €0.06m | €0.009m | ▼ 84.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €79 | €162 | €168 | ▲ 3.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.7m | €1.4m | €0.9m | €1.2m | €0.9m | €1.0m | €0.7m | ▼ 31.1% |
| Equity10/15 | €0.2m | €0.1m | €0.1m | €0.05m | €0.04m | €0.04m | -€0.2m | - |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | €0.06m | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | €0.06m | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | €0.006m | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | €0.09m | €0.07m | €0.04m | -€0.02m | -€0.03m | -€0.03m | -€0.2m | ▼ 718% |
| Amounts payable17/49 | €1.6m | €1.3m | €0.8m | €1.1m | €0.9m | €0.9m | €0.8m | ▼ 10.2% |
| Amounts payable after more than one year17 | €0.04m | €0.02m | €0.01m | €0.001m | - | - | - | - |
| Financial debts170/4 | €0.04m | - | - | €0.001m | - | - | - | - |
| Amounts payable within one year42/48 | €1.5m | €1.2m | €0.8m | €1.1m | €0.8m | €0.9m | €0.8m | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | €0.01m | - | - | €0.01m | - | - | - | - |
| Financial debts43 | €0.4m | - | - | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 40.3% |
| Credit institutions430/8 | €0.4m | - | - | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 40.3% |
| Trade debts44 | €0.8m | €0.5m | €0.5m | €0.6m | €0.5m | €0.4m | €0.6m | ▲ 25.0% |
| Suppliers440/4 | €0.8m | - | - | €0.6m | €0.5m | €0.4m | €0.6m | ▲ 25.0% |
| Taxes, remuneration and social security45 | €0.2m | - | - | €0.1m | €0.08m | €0.2m | €0.1m | ▼ 33.1% |
| Taxes450/3 | €0.1m | - | - | €0.07m | €0.05m | €0.06m | €0.04m | ▼ 32.0% |
| Remuneration and social security454/9 | €0.1m | - | - | €0.04m | €0.03m | €0.1m | €0.08m | ▼ 33.6% |
| Accrued charges and deferred income492/3 | €0.08m | - | - | €0.06m | €0.08m | €0.05m | €0.003m | ▼ 94.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,396 | -€23,128 | -€29,826 | -€54,297 | -€10,075 | €877 | -€203,374 | - |
| + Depreciation and write-downs630 | €140,373 | €68,718 | €57,046 | €57,185 | €56,507 | €51,326 | €46,850 | ▼ 8.7% |
| Operating cash flow (approximation) | €143,769 | €45,590 | €27,221 | €2,888 | €46,433 | €52,203 | -€156,524 | - |
| Investment in fixed assets (approximation) | - | -€11,707 | €146 | €2,488 | €18,052 | €13,372 | €160 | ▼ 98.8% |
| Change in cash | - | -€154,954 | -€6,058 | €21,223 | -€46,054 | €33,675 | -€52,406 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 57 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 29-09-2025 | 2025-00509987 | |
| 31-12-2024 | abbreviated format | 29-09-2025 | 2025-00509872 | |
| 31-12-2023 | full format | 05-07-2024 | 2024-00212681 | |
| 31-12-2023 | abbreviated format | 05-07-2024 | 2024-00212672 | |
| 31-12-2022 | full format | 29-09-2023 | 2023-00459595 | |
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00459582 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20408240 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20407962 | |
| 31-12-2020 | full format | 12-07-2021 | 2021-33500464 | |
| 31-12-2020 | abbreviated format | 12-07-2021 | 2021-33500463 |